Sugar #11 Jul '27 (SBN27)
Sugar #11 Futures Market News and Commentary
May NY world sugar #11 (SBK26) on Wednesday closed down -0.35 (-2.40%), and May London ICE white sugar #5 (SWK26) closed down -6.40 (-1.49%).
Sugar prices extended their week-long slide on Wednesday, falling to 3-week lows. Â Wednesday's 16% plunge in crude oil prices (CLK26) weighed on sugar prices as weak crude prices undercut ethanol prices, potentially encouraging the world's sugar mills to increase sugar production at the expense of ethanol, thus boosting sugar supplies. Â
Sugar prices were already on the defensive from Tuesday when India's Food Secretary said that the government has no plans to ban sugar exports this year, easing concerns that it could divert more sugar to make ethanol after the Iran war disrupted crude oil supplies. Â
Sugar prices are also under pressure from last Thursday when India's National Federation of Cooperative Sugar Factories Ltd. reported that India's 2025-26 sugar output from Oct 1-Mar 31 was up +9% y/y to 27.12 MMT.
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